Allegations surfaced today of sexual impropriety on the part of Mason Kane, the beleaguered CEO of the embattled investment bank Kane Price. Amidst the allegations, the Board of Directors of Kane Price formally declared to hold a vote of No Confidence in Mason Kane, the founder and CEO of Kane Price.
Kane Price shares tumbled in intraday trading, dropping as low as 30% before finishing the day lower 25%. Prices of a single share of Kane Price were at their 52-week low of the year.
The No Confidence vote came on the heels, and many believe, spurred by a statement from Mr. Kane's current wife. The statement released by Lorna Lowell, the activist shareholder with the largest position in Kane Price after Mr. Kane himself. In the statement that was released to the media as well as posted on her own official site as well as that of her law firm, the recently married wife of the CEO states that she will be seeking an annulment from their marriage, and barring that, a divorce.
In the statement, she states unequivocally that Mason Kane expressed an unhealthy interest in her daughter, Rebecca Lowell. She asserts that on numerous occasions she had caught both Mr. Kane and her daughter in sexually compromising positions that violated the sanctity of her marriage vows.
Ms. Lowell further goes on to state that she plans to bring about conclusive proof in divorce court should she be required to that these overtures by Mr. Kane were the result of his "bare knuckles" approach to dealing with her when the two disagreed on investment matters for the Firm. Ms. Lowell was made Chief Investment Counsel to the CEO less than three months ago. Almost immediately, the two began to clash on controversial investments and the future of Kane Price.
Numerous insiders describe the situation inside Kane Price as two armed camps that are facing off against each other, with one side siding with Lorna Lowell and the investment direction she proposes, and the other sticking with Mr. Kane and the tried and true formula that he believes in.
Mr. Kane has faced troubles before. Earlier in the year he was at the heart of a scandal after being filmed in a compromising sexual position with a television anchor, Stacy Sawyer. The video culminated with his ejaculation on live television.
Investors and clients are naturally spooked by the turbulence at Kane Price and sources tell us that an outflow of money has already begun that will most likely get worse if the Board decides to remove Mr. Kane in it's No Confidence meeting scheduled four days from now.
At this time, the only person who seems to be calm is Mason Kane himself. Reporters sought to gauge his pulse as he headed out of his One57 condo, but the CEO stated that he had no comment to give. Mr. Kane was last seen heading toward Peterborough Airport and many find it odd that he would leave New York City at a time like this rather than prepare for the meeting that will decide his fate as CEO.#p#分页标题#e#
As the eyes of Wall Street focus on Kane Price, stay tuned to MarketWatch Journal for all your updates.
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Becca
Four days ago, the no confidence vote was announced, and Mason left me to go to his apartment and then go to the airport.
Halfway to his apartment, I remember him calling me.
"Can you email me everything you have?" he asked. I rolled my eyes as he qualified that statement with a, "I love you but I'm just reminding you because I'm going to be going away for a little bit."
I would have asked where but I knew there was no point.
There was something that I had found in the Red Lion research that had tickled Mason and he was off to go see what it was.
"Don't worry, baby girl," he told me over the phone before he hung up. "I'm pretty sure after I'm back no one will fuck with us ever again."
I tried to keep a brave voice.
"I also can't accept your resignation," Mason had said. I knew this was coming. "I need you close to me for whatever goes down. Trust me."
Well, hun, I'm really trying to trust him here and have faith in him because when he said that four days ago I never thought for a moment that I'd be outside the Board Room four days later watching as each of the Board Members began to sit down and wait on Mason.
I mean, four days ago I had marched to my floor drenched to the bone and written a resignation letter.
Let's not even get into the look of puzzlement on my direct manager's face when Mason replied back to the email I had copied him on saying, "No fucking way."
I mean, you're talking about a middle manager here in his 50s with a bit of a paunch. He sees the brash bad boy CEO commenting and replying back to an email to the 21-year-old intern.
"I don't want to get in the middle of anything," he had told me. "I have five years before I make enough money to retire and I don't wanna know anything."